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Dec 6, 2012
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the wealthiest among us can help us reduce the debt by paying more. it is encouraging to see republican members of the house and the senate speak out on the need or a deficit approach that includes raising taxes on wealthy individuals and to moving right away to ensure that 98% of families do not race a tax increase. we need to look -- do not face a tax increase. we need to look at history. what we saw in the 1990s and 2000s, there was no relationship between lower marginal tax rates for the wealthiest among us an economic growth. first during the clinton administration, the top marginal tax rate was raised on the wealthiest individuals and the economy grew at its fastest rate in a generation. it added more than 22 million jobs. during the following eight years, the top marginal rate dax tax rate was lower, but economy never regained its strength from the reviews decade. middle-class families are vulnerable when the recession began at the end of 2007. i hope this hearing is helpful not just in this hearing, but across this country to people who are wa
the wealthiest among us can help us reduce the debt by paying more. it is encouraging to see republican members of the house and the senate speak out on the need or a deficit approach that includes raising taxes on wealthy individuals and to moving right away to ensure that 98% of families do not race a tax increase. we need to look -- do not face a tax increase. we need to look at history. what we saw in the 1990s and 2000s, there was no relationship between lower marginal tax rates for the...
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Dec 10, 2012
12/12
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us strong. it is also what allows our workers to buy the products that we make. they have enough money in their pockets. we have to get past this whole situation where we manufacture crisis because of politics and we cannot focus on coming together to grow. we are seeing the same thing in washington. i am sure you have all heard the talk recently about some deadlines we are facing in a few weeks when comes to investment in taxes. that will have a big impact on all of you. if congress does not accident, starting on january 1 everybody is going to see their income taxes going up. that is true. typical middle-class family of four will see an income tax hike of $2,200. how many of you can afford to pay another $2,200 tax and did not think so. that is a hit he cannot afford to take. if congress lets middle-class taxes go up, economists will tell you that people will spend nearly $200 billion less than they otherwise would spend. consumer spending is going to go down. that means you have less customer
us strong. it is also what allows our workers to buy the products that we make. they have enough money in their pockets. we have to get past this whole situation where we manufacture crisis because of politics and we cannot focus on coming together to grow. we are seeing the same thing in washington. i am sure you have all heard the talk recently about some deadlines we are facing in a few weeks when comes to investment in taxes. that will have a big impact on all of you. if congress does not...
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Dec 3, 2012
12/12
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joining us from the wall street journal is don mckinnon. thanks so much for joining us today. what are the loopholes and deductions? we hear those words a lot, but what are they? guest: loopholes or tax breaks of all different sorts, and whether you like a particular loophole or not depends on where you sit, i guess. there are lots of loopholes that are deductions. deductions are those that most people are familiar with. the big, itemized deductions are things like the home mortgage interest deduction. there is a deduction for state and local taxes that is very important, the deduction for charitable contributions is real important, and there are all kinds of other breaks that people are less familiar with. there are some that people are probably not aware of but all that are very big and important. for instance, the health care that most of us get at worked represents a big source of income to a lot of people, and yet it does not count as income on your taxes. that is a giant break that is known as an exemption. there are all kinds of other breaks that exists. the earned inco
joining us from the wall street journal is don mckinnon. thanks so much for joining us today. what are the loopholes and deductions? we hear those words a lot, but what are they? guest: loopholes or tax breaks of all different sorts, and whether you like a particular loophole or not depends on where you sit, i guess. there are lots of loopholes that are deductions. deductions are those that most people are familiar with. the big, itemized deductions are things like the home mortgage interest...
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Dec 19, 2012
12/12
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second, it will in fact help us stop fraud. this is an area that has been relentlessly abused, where people order their changes in the order. sometimes orders are actually made that aren't -- that are entirely different than what people requested. having this secure card will enable people to be able to have the security of the transaction, know where it's at. greater accuracy of billing, track mistakes, stop fraud. i cannot say strongly enough that i think it's important for us to move. i appreciate the work that was done putting a study over the next two years about this provision. but with all due respect, i hope as this legislation works its way through congress, and i hope it is yet enacted while we are still here for the 112th congress, that we're able to be serious, not just about a two-year study. this is an area that we ought to be able to implement pilot projects right now across the country. it would make a difference for the administration. i think there's no question we could come to scale very quickly, help senior
second, it will in fact help us stop fraud. this is an area that has been relentlessly abused, where people order their changes in the order. sometimes orders are actually made that aren't -- that are entirely different than what people requested. having this secure card will enable people to be able to have the security of the transaction, know where it's at. greater accuracy of billing, track mistakes, stop fraud. i cannot say strongly enough that i think it's important for us to move. i...
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Dec 5, 2012
12/12
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i think none of us knows what's going to impact us. so really, chairman landrieu, really appreciate you working on this issue. obviously secretary done vand and administrator fugate, thank you for your words here. very impressive first panel, listening to so many senators that have just seen tremendous things happen to their citizens and we all need to stand up and help them now as well. as i said, we have to learn from this and get it right and i was listening to your response on senator on the cdbg in particular. i know we have worked to make that more flexible. i think that there's been some proposals out there about making it more flexible. but i'd like to go back and ask you, what issues have you seen in particular with cdbg that says to you this is what we need to change? >> so, a number of the things have to do with simply the fact that cdbg is envisioned as a block grant for regular sort of course of business, not only on housing but infrastructure and other community needs. so the types of things that we have run into, dependi
i think none of us knows what's going to impact us. so really, chairman landrieu, really appreciate you working on this issue. obviously secretary done vand and administrator fugate, thank you for your words here. very impressive first panel, listening to so many senators that have just seen tremendous things happen to their citizens and we all need to stand up and help them now as well. as i said, we have to learn from this and get it right and i was listening to your response on senator on...
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Dec 12, 2012
12/12
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it should be us. and i want to thank all these young people and their parents for coming out today and now we're going to hear from representative tom reed from new york. >> thank you, virginia. well, thank you very much. i'm tom reed from new york and i thank these young men and women that are with us today. ladies and gentlemen, i hear what the president and the democrats are saying. their solution is increase taxes to solve this problem. and only increased taxes on the top 2% or the wealthier segment of our society. now, one, i was one of the early-on republicans who said, i will consider revenue if it means we are going to have a serious conversation about solving the crisis that is now upon us. because put it in mathematics. the increased revenue that the president has championed is $80 billion a year. we have a $1.1 trillion national debt problem every year added to the $16 trillion of total national debt. that math doesn't work. that arithmetic doesn't add up. to put it in perspective, every ba
it should be us. and i want to thank all these young people and their parents for coming out today and now we're going to hear from representative tom reed from new york. >> thank you, virginia. well, thank you very much. i'm tom reed from new york and i thank these young men and women that are with us today. ladies and gentlemen, i hear what the president and the democrats are saying. their solution is increase taxes to solve this problem. and only increased taxes on the top 2% or the...
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112
Dec 18, 2012
12/12
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duncan, who is here with us. in september, the house acted and passed the duncan bill overwhelmingly, and last week the senate further reiterated its strong bipartisan and bicameral support for the bill and the need to address iran's increased presence in the western hemisphere. in february, the committee on foreign affairs held a hearing entitled ahmadinejad's tour of tyrants and iran's agenda in the western hemisphere in order to examine the growing threat posed by iran and its proxies to the u.s. national security interests in the western hemisphere, a threat that first became evident 18 years ago with the deadly assault on the jewish community center in buenos aries. 18 years ago diplomats partnered with hezbollah, a foreign terrorist organization, to carry out the attack. since then, tehran has only increased its subversive actions as well as their diplomatic and economic relations with radical regimes in latin america. iran's ahmadinejad made two trips to latin america this year in an attempt to garner supp
duncan, who is here with us. in september, the house acted and passed the duncan bill overwhelmingly, and last week the senate further reiterated its strong bipartisan and bicameral support for the bill and the need to address iran's increased presence in the western hemisphere. in february, the committee on foreign affairs held a hearing entitled ahmadinejad's tour of tyrants and iran's agenda in the western hemisphere in order to examine the growing threat posed by iran and its proxies to the...
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Dec 19, 2012
12/12
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chaplain conroy: let us pray. eternal god, we give you thanks for giving us another day. we pause in your presence and ask guidance for the men and women of the people's house. enable them, o god, to act on what they believe to be right and true and just and to do so in ways that show respect for those with whom they disagree. send your healing upon our nation as we continue to recover from such a great tragedy, endow the members of this house and all our governmental leaders with the wisdom to respond with whatever policies and laws might be needed to ensure greater peace and security in our land. bless us this day and every day and may all that is done be for your greater honor and glory, amen. the speaker: the chair has examined the journal of the last day's proceedings and announces to the house his approval thereof. pursuant to clause 1 of rule 1, the journal stands approved. the pledge of allegiance today will be led by the gentlelady from california, ms. chu. ms. chu: i pledge allegiance to the flag of the united states of america and to the republic for which it s
chaplain conroy: let us pray. eternal god, we give you thanks for giving us another day. we pause in your presence and ask guidance for the men and women of the people's house. enable them, o god, to act on what they believe to be right and true and just and to do so in ways that show respect for those with whom they disagree. send your healing upon our nation as we continue to recover from such a great tragedy, endow the members of this house and all our governmental leaders with the wisdom to...